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updated on 13 April 2017
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India or China which is best performing Asian markets in 2017
Asian stock markets are likely to gain up to 20 per cent between now and December end, suggests a survey by Credit Suisse.
The survey that covered 2,500 institutional investors, hedge funds, HNIs holding over $18 trillion assets and 330 companies from 15 countries, besides renowned policy makers and political leaders, showed China and India are two most overweight bets in the Asian region.
“Within the Asia Pacific region, the survey participants chose three countries as their most overweight picks: India, China (H-shares) and China (A-shares) - cumulatively accounting for around 52 per cent of total votes. The latter has seen a reversal of fortunes, being the most heavily underweighted market last year. India and China-H, however, were in the top four overweight countries in last two surveys,” it said.
On the flip side, Pakistan, Malaysia and Australia were among the markets on which investors were mostly underweight. Pakistan and Malaysia have been among the top three most underweight markets for a few years running now, the investment bank noted.
Performance of Asian Markets
The Sensex is leading the Asian race with 11 per cent gain this calendar, compared with a 5.36 per cent rise in the Shanghai Composite (china’s). Pakistan’s KSI index is flat, while Malayisa’s FTSE Bursa Malaysia KLCI is up 4 per cent this year. Hong Kong’s Heng Seng (10 per cent) and Korea’s Kospi (8 per cent) are only two major Asian indices, standing up to India in terms of equity returns.
As many as 49 per cent of the respondents in the survey felt Asia (excluding Japan) will outperform the rest, compared with 37 per cent participants with similar views last year. Europe at 26 per cent overweight (from 24 per cent last year) and US at 17 per cent overweight (down from 28 per cent last year) generated mixed response.
A total of 48 per cent participants expect Asian markets to finish between 10 per cent and 20 per cent higher from current levels by year end, while only 34 per cent of those polled expect the markets to remain flat.